Crypto exchange OKX has made a significant stride in the global cryptocurrency market by securing a full major payment institution (MPI) license from the Monetary Authority of Singapore. This achievement allows OKX to offer expanded services such as cross-border money transfers and digital payment tokens without the typical volume restrictions faced by other payment institutions.

Simultaneously, OKX Singapore has strengthened its leadership by appointing Gracie Lin, a former MAS regulator, as its CEO. Lin’s extensive regulatory experience and understanding of Singapore’s financial landscape are expected to drive the company’s strategic initiatives in the region. She emphasized that the MPI license is a crucial step in fortifying Singapore’s position as a central hub for digital assets.

Under this new license, OKX is now authorized to surpass the monthly transaction limit of 6 million Singaporean dollars for multiple payment services. This regulatory milestone is poised to enhance the exchange’s offerings, providing users with more flexibility and access to the thriving digital economy.

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